NEWS BITES - AUSTRALIA
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ANZ Group Holdings Limited's (ASX: ANZ $A22.85) stock price increased 17.0c (0.8%) from its previous trading session to close at $A22.85.
Compared with the All Ordinaries Index which rose 24.0 points (0.3%) in the day, the relative price increase was 0.4%.
ANZ Group Holdings Limited is Australia's 4th largest Bank by market cap.
There were 4,973,687 shares worth $A113.6 million traded today. The volume was 0.8 times the average daily trading volume of 6.4 million shares.
ANZ GROUP HOLDINGS (ANZ) Stock Dashboard [traded in Australian Dollars, AUD] End-of-Day
| Exchange | AUSTRALIAN [ASX] | Ave Daily Volume | 6,411,552 shares |
| Currency | 1.000 AUD = 0.671 USD | 52-Week Price Range | 19.67 - 25.22 |
| Jun 09, 2023 | $A22.85 | Sector | Bank |
| EPS (FY2022) | $A2.50 | Independent Rating | Ranked 192 in Forbes 2000 |
| ANZ P/E | Stock 9.1; Sector 12.3 | Market Cap | $A69 billion [US$46 billion] |
| ANZ Dividend Yield % (TTM) | Stock 6.8; Sector 7.4 | Shares Outstanding | 2,999,157,632 |
| DPS (past 12 months) | $A1 | ANZ in Indices | All Ordinaries |
| EPS Growth (FY2022 vs FY2021) | 16.1% | PVAUD1000 (1 yr) PVUS$1000 (1 yr) | $A1,112 US$1,033* |
*If You Invested $1,000 in ANZ Group Holdings a year ago, This is How Much You Would Have Today: $1,033. USD1000 would have bought $A1,404 for 64.1 shares (@the then price of 21.92) worth $A1,112 @22.85 today. Dividends reinvested are worth $65.
INDEX
SECTION 1 RECENT NEWS AND RESEARCH
SECTION 2 TODAY'S BEARISH SIGNALS
SECTION 3 ONGOING BEARISH PARAMETERS
SECTION 4 TODAY'S BULLISH SIGNALS
SECTION 5 ONGOING BULLISH PARAMETERS
SECTION 6 CORPORATE PROFILE
SECTION 7 BANK METRICS
APPENDIX I DATA & ARCHIVE DOWNLOAD CENTER
APPENDIX II OTHER LISTINGS AND STOCK IDENTIFIERS
GLOSSARY
SECTION 1 RECENT NEWS AND RESEARCH
Press Releases and Corporate Wire
April 13: ANZ Group Holdings announces AGM
ANZ Group Holdings has announced its Annual General Meeting will take place on Wednesday, May 31.
May 06: ANZ Group Holdings announces dividend
ANZ Group Holdings today announced an interim dividend of 81.0c per share, franked to 100%. The ex-dividend date is Monday, May 15, 2023 and the record date is Tuesday, May 16, 2023 and it is payable on Monday, July 03.
SECTION 2 TODAY'S BEARISH SIGNALS
2.1 Downtrend
Beta < 1 combined with price fall. The Beta of the stock is 0.8.
Negative MACD:
- The Moving Average Convergence Divergence (MACD) indicator of 12-day Exponential Moving Average (EMA) of 23.01 minus the 26-day EMA of 23.17 is negative, suggesting a bearish signal. Both the 12-day EMA as well as the 26-day EMA are falling, another bearish signal.
Past Quarter:
The Worst 3 weeks in the past quarter
In the past quarter the steepest fall of 4.4% took place in the week beginning Monday March 13. The fall was exacerbated by volume of 2 times average.
| Mon-Fri | Change % | All Ordinaries Index Change % | RPC % | Vol Ind [1 is avg] |
| Mar 13-17 | -4.4 | -2.2 | -2.2 | 2 |
| May 29-Jun 02 | -3 | -0.1 | -2.9 | 1.4 |
| May 01-05 | -2.3 | -1.2 | -1.1 | 1.3 |
2.2 Other Bearish Signals
- As per the Du Pont analysis, Return on Equity of 10.8% is lower than sector average of 11.2%. This is computed as net profit margin of 36.7% times asset turnover [sales/assets] of 0.02 times leverage factor [total assets/shareholders' equity] of 16.4.
SECTION 3 ONGOING BEARISH PARAMETERS
3.1 Present Value of AUD1000 Invested in the Past 3 Months; The Worst Period with PVAUD1000 < 999
| PVAUD1,000 | 3 mo ago |
| ANZ.ASX | $A998 |
| Bank sector | $A916 |
| All Ordinaries Index | $A984 |
3.2 Past quarter: price fall of 3.5%
3-Month price change of -3.5% for ANZ Group Holdings underperformed the change of -0.5% in the All Ordinaries Index for a relative price change of -3%.
| Price Change % | Quarter |
| ANZ Group Holdings | -3.5 |
| Bank sector | -8.4 |
| All Ordinaries Index | -0.5 |
3.3 MCap: 5-Year Decrease of $A9 B (12%)
In the past 5 years Market Capitalization has decreased by $A9.2 billion (12%) from $A77.7 billion to $A68.5 billion. Based on a dynamic start date of 5 years ago, there have been declines in MCap in 4 out of 5 years.
| Price | MCap (AUD B) | MCap ($ B) | |
| Last | $A22.85 | 68.5 | 46 |
| 1 Year ago | $A21.92 | 65.2 | 46.5 |
| 2 Years ago | $A25.62 | 81.8 | 63.3 |
| 3 Years ago | $A16.63 | 56.1 | 39.1 |
| 4 Years ago | $A23.14 | 81.4 | 56.7 |
| 5 Years ago | $A20.49 | 77.7 | 59.1 |
3.4 Satisfies 4 out of 9 criteria of Joseph Piotroski [pass mark 5]:
- Return on Assets improvement [from 0.6% to 0.7%].
- Improvement in current ratio from 8.6 to 10.1.
- Reduction in total shares on issue.
- Improvement in asset turnover [growth in revenue of 11.5 exceeded growth in assets of 10.9%].
But does not meet the following 5 criteria of Joseph Piotroski:
- Improvement in long-term debt to total assets.
- Improvement in gross margin.
SECTION 4 TODAY'S BULLISH SIGNALS
4.1 Relative Value Indicators: Undervaluation compared with sector averages
Price/Earnings of 9.1 < Bank sector (of 13 stocks) avg of 12.3:
- The price-to-earnings ratio of 9.1 indicates undervaluation compared with sector average of 12.3 and market average of 13.6.
Brand Value/Enterprise Value:
- Brandirectory have estimated ANZ Group Holdings brand value at $A8.7 billion. The Brand Value represents an impressive 12.3% of the estimated Enterprise Value of $A70.9 billion. Enterprise Value is defined as MCap of $A68.5 billion plus net debt of $A2.4 billion.
4.2 Relative Value Indicators: Undervaluation compared with Index averages and bond yield
- Earnings yield of 10.9% is more attractive compared with the Australian average earning yield of 7.3%.
- The earnings yield of 10.9% is 3.0 times the 10-year bond yield of 3.7%.
(All figures in %)
| Earnings Yield | 10.9 |
| Australian avg | 7.3 |
| Dividend Yield | 6.8 |
| Bond Yield | 3.7 |
Dividend Yield > Bond Yield of 3.66%:
The dividend yield of 6.78% is 1.85 times the triple-A bond yield of 3.66%. The times factor of 1.85 is above the benchmark factor of 0.67 times set by Benjamin Graham.
(All figures in %)
| Dividend Yield | 6.78 |
| Bond Yield | 3.66 |
| Spread | 3.12 |
The Dividend Yield of 6.8% is better than the Index average of 4.7%
- The relative yield of the stock, defined by its yield of 6.8%, divided by average yield of dividend yielding stocks in the All Ordinaries Index of 4.7% is 143.0%. This suggests the stock is undervalued in dividend yield terms.
| Sector | P/E | Dividend Yield % | |
| Forbes 2000 | Stock: 9.1; Sector: 15.3 | Stock: 6.8; Sector: 1.0 | undervalued |
4.3 PAST WEEK: MODERATE MOMENTUM UP - ANZ strengthens 0.4% on volume 1.0 times average
Week 23 of 2023: Up 0.4%; the price ranged between a high of $A23.12 on Monday Jun 05 and a low of $A22.68 on Thursday Jun 08.
| Jun | ANZ Group Holdings | Close [AUD] | Change % | RPC % * | Comment |
| Mon 05 | Adds $A1 billion (1.5%) in MCap, top heavyweight rise in Bank sector | 23.12 | 1.5 | 0.6 | Week-high of 23.12; Top Rise |
| Tue 06 | Drops 1.6% on slipping relative strength | 22.74 | -1.6 | -0.5 | Steepest Fall; VI*=1.1 |
| Wed 07 | Decreases on firm volume | 22.73 | -0.04 | -0.1 | VI*=1.1 |
| Thu 08 | Decreases | 22.68 | -0.2 | -0.1 | Week-low of 22.68 |
| Fri 09 | Inches higher, resistance at 12-day EMA | 22.85 | 0.8 | 0.4 | Price rise on rising relative strength |
* RPC - Relative Price Change is % price change of stock less % change of the All Ordinaries Index.
[Volume Index (VI); 1 is average]
4.4 Other Bullish Signals
- Net profit margin has averaged 31.0% in the last 3 years. This is considered superior and suggests a high margin of safety.
4.5 Oversold/Bullish Signals:
- The stock is oversold according to the Williams % R indicator of -81.4, suggesting the price is close to its 14-day low of $A22.58.
- The Stochastic indicator of 12.8 has pierced the oversold line of 20; this indicates the price is close to its 14-day low and is likely to revert to an uptrend.
SECTION 5 ONGOING BULLISH PARAMETERS
5.1 Growth in annual dividends per share and earnings per share
- ANZ Group Holdings sees dividend rise for a third consecutive year
ANZ Group Holdings reported dividends per share of $A1.55 in the past year, up 7.6% from the previous year. This is the third consecutive dividend increase. In the past 3 years average annual compound growth rate of dividends was 24.7%.
- EPS growth [FY2022 vs FY2021] of 16.1%:
| FY | EPS (AUD) | Growth % |
| 2022 | 2.5 | 16.1 |
| 2021 | 2.15 | 70.9 |
5.2 Rule of 40
The stock scores a favorable score exceeding 40 when using the Rule of 40 (Revenue Growth plus EBITDA margin). Y.o.y revenue growth of 12%, EBITDA margin is 51.9% and the sum of the two 63.4% needs to exceed 40%.
5.3 Rank in the top 22% by Performance in the Australian market
| Description | Value | Rank |
| EBITDA Margin % | 51.9 | In Top 22% |
| Net Profit Margin % | 36.7 | In Top 22% |
5.4 Present Value of AUD1000 Invested in the Past [1 Yr, 3 Yrs]; The Best Periods with PVAUD1000 > 1,111
| PVAUD1,000 | 1 yr ago | 3 yrs ago |
| ANZ.ASX | $A1,112 | $A1,655 |
| Bank sector | $A966 | $A1,158 |
| All Ordinaries Index | $A1,010 | $A1,168 |
5.5 The Best Periods [1 Yr, 3 Yrs] with Price Change % > 4.1
3-Year price change of 37.4% for ANZ Group Holdings outperformed the change of 19.6% in the All Ordinaries Index for a relative price change of 17.8%.
| Price Change % | Year | 3 Years |
| ANZ Group Holdings | 4.2 | 37.4 |
| Bank sector | -6 | 22.3 |
| All Ordinaries Index | -0.5 | 19.6 |
5.6 Stock vs Index (Annual Percentage Change)
| December 31 | Last price in AUD | Annual Return | Index return of All Ordinaries Index |
| 2021 | $A25.99 | 27.5 | 13.6 |
| 2020 | $A20.38 | -4.9 | 0.7 |
| 2019 | $A21.43 | 7.0 | 19.1 |
| 2018 | $A20.03 | -9.7 | -7.4 |
| 2017 | $A22.19 | -0.4 | 7.8 |
| 2016 | $A22.27 | 15.8 | 7.0 |
| 2015 | $A19.24 | -9.7 | -0.8 |
| 2014 | $A21.31 | 5.0 | 0.7 |
| 2013 | $A20.29 | 32.2 | 14.8 |
| 2012 | $A15.35 | - | - |
Over 10 years Australia and New Zealand Banking Group Limited is up a total 69.4% at an annualized rate of 6.0% compared to the Index being up 66.8% at an annualized rate of 5.8%.
Australia and New Zealand Banking Group Limited has outperformed the All Ordinaries Index in 4 of the past 10
years: 2021, 2016, 2014, 2013.
5.7 Moving Annual Return of 11.3% in the past year:
Moving Annual Return was 11.3% in the past year. Based on a dynamic start date of 5 years ago, the real rate of return has averaged 12.1%. The Moving Annual Return has been positive in 3 of the last 5 years.
| ANZ | Close (AUD) | Dividends (AUD) | Capital Gain / (Loss) % | % Yield | Annual Return % |
| Jun 09 | 22.85 | 1.55 | 4.2 | 7.1 | 11.3 |
| 1 Yr ago | 21.92 | 1.44 | (14.4) | 5.6 | (8.8) |
| 2 Yrs ago | 25.62 | 1.3 | 54 | 7.8 | 61.9 |
| 3 Yrs ago | 16.63 | 0.8 | (28.1) | 3.5 | (24.7) |
| 4 Yrs ago | 23.14 | 1.6 | 12.9 | 7.8 | 20.8 |
Close 5 years ago $A20.49
5.8 Buybacks and 4-Years Decrease of 1.4% in Total Shares on Issue
In the past 4 years total shares on issue have decreased by 40.8 million (1.4%) from 2.9 billion to 2.8 billion. Buybacks have averaged 18.9 million shares [0.7%] per financial year. Based on a dynamic start date of 4 years ago, there have been declines in issued capital in 3 out of 4 years. A reduction in total shares on issue is a favourable indicator in Joseph Piotroski's 9 indicators.
| Year End (Sep 30) | Total Shares on Issue | FY | Buybacks | Buyback % |
| 2022 | 2,847,500,000 | 2022 | 15,100,000 | 0.5% |
| 2021 | 2,862,600,000 | 2021 | - | - |
| 2020 | 2,830,900,000 | 2020 | 4,000,000 | 0.1% |
| 2019 | 2,834,900,000 | 2019 | 53,400,000 | 1.8% |
| 2018 | 2,888,300,000 | 2018 | 22,000,000 | 0.8% |
| Total | 94,500,000 | |||
| Average per FY | 18,900,000 |
5.9 Annualised Period-based Total Shareholder Returns [TSR %]: The Best Periods with TSR > 8.4%
| TSR % | 1 yr | 3 yrs | 5 yrs | 10 yrs | 20 yrs | 30 yrs |
| ANZ.ASX | 11.2 | 18.1 | 8.5 | 11.9 | 14.5 | 15.4 |
5.10 P/E/G < 1
The price earnings ratio of 9.1 divided by trailing twelve months eps growth of 16.1% corresponds to an attractive P/E/G of 0.6 times; being less than the value benchmark of 1.0.
| EPS Growth (%) | 16.12 |
| P/E/G | 0.57 |
| P/E | 9.14 |
5.11 Improved EBIT Margins:
EBIT margin is positive and has increased from 51.3% to 51.9% in the past year.
| FY | EBIT Margins (%) |
| 2022 | 51.9 |
| 2021 | 51.3 |
| 2020 | 31.3 |
5.12 Increased Volume, up 27% in 5 years
In the past five years, Average Daily Volume of Trading (ADVT) has increased 27.2% to 6.4 million shares.
Avg. Daily Volume Traded 12 months ended Jun 09, million shares
| Year | ADVT |
| 2023 | 6.4 |
| 2022 | 5.2 |
| 2021 | 6.3 |
| 2020 | 7.3 |
| 2019 | 5.0 |
5.13 Increased VWAP, up 7% in 5 years
In the past five years Volume Weighted Average Price (VWAP) has increased by 7.0% to $A22.69. Based on a dynamic start date of five years ago, there have been declines in VWAP in 2 out of 5 years.
Past five years, 12 months ended Jun 09 (AUD)
| Year | High Price | VWAP | Low Price |
| 2023 | 25.22 | 22.69 | 19.67 |
| 2022 | 26.4 | 24.82 | 21.72 |
| 2021 | 26.08 | 18.96 | 13.99 |
| 2020 | 23.61 | 18.42 | 11.86 |
| 2019 | 23.9 | 21.2 | 18.2 |
5.14 Increased share turnover, up 35% in 5 years
In the past five years, average daily share turnover has increased 35.0% to $A145.5 million. This suggests increased liquidity.
Past five years, 12 months ended Jun 09 (AUD million)
| Year | Average Daily Turnover |
| 2023 | 145.5 |
| 2022 | 131.7 |
| 2021 | 122.2 |
| 2020 | 137.4 |
| 2019 | 107.8 |
5.15 Satisfies one criterion of Benjamin Graham
- The P/E of 9.1 multiplied by the P/NTA of 1.1 is 10.1. Being less than the Benjamin Graham benchmark of 22.5 the stock appears undervalued.
SECTION 6 CORPORATE PROFILE
6.1 Activities
ANZ Group Holdings provides banking and financial products and services to over 8.5 million retail and business customers and operate across 32 markets.
Our expertise, products and services make us a bank. Our people, purpose, values and culture make us ANZ.
ANZ Group Holdings Limited is an authorised non-operating holding company under the Australian Banking Act. It is Australia's 4th largest Bank by market capitalisation.
6.2 Contact Details
| Website | http://www.anz.com.au/ |
| Physical Address | ANZ Centre Melbourne, Level 9, 833 Collins Street, DOCKLANDS, VIC, AUSTRALIA, 3008 |
| Phone | 03 8654 0000 |
| Fax | +61 3 8542 5252 |
| libby.armstrong@anz.com |
6.3 Industry & Sector [of 292 stocks]
| Classification Level | Name of Sector |
| Economic Sector | Financials |
| Business Sector | Banking & Investment Services |
| Industry Group | Banking Services |
| Industry | Banks |
SECTION 7 BANK METRICS
7.1 Bank Metrics (FY2022)
All values are in $A billion
| Description | FY2022 | FY2021 | Change |
| Interest Income | 23.6 | 19.5 | Up 20.9% |
| Interest Expense | 8.7 | 5.4 | Up 62.7% |
| Bank Other Revenue | 4.2 | 3.3 | Up 27.4% |
Favourable Changes:
- Interest Income up 20.9% from $A19.5b to $A23.6b
- Bank Other Revenue up 27.4% from $A3.3b to $A4.2b
Unfavourable Changes:
- Interest Expense up 62.7% from $A5.4b to $A8.7b
APPENDIX I DATA & ARCHIVE DOWNLOAD CENTER
ANZ: EXCEL TABLES ARE AVAILABLE TO EXPORT DATA:
+ PRICE VOLUME - 5-YEAR HISTORY
+ PEER COMPARISON - STOCK IN BANK SECTOR AND STOCK IN INDICES
+ PATENTS - CATEGORISED LIST OF 5-YEAR HISTORY OF 1 :
ANZ: LINKS IN HTML TO FURTHER INFORMATION:
+ NEWS ARCHIVES - ANZ PAST 4 YEARS IN HTML:
+ USD vs AUD EXCHANGE RATE CHARTS IN HTML
APPENDIX II OTHER LISTINGS AND STOCK IDENTIFIERS
II.1 Primary Exchange and Other Listings: Trading Currency and Volume (Excl ADR)
| Exchange | Ticker | Currency | Last | ADVT | Vol % of Total | Today's VI |
| ASX | ANZ | AUD | 22.85 | 6,411,542 | 99.8 | 0.8 |
| New Zealand | ANZ | NZD | 25.28 | 19,887 | 0.2 | 0.6 |
| Total | 100.00 |
1 AUD [Australian Dollar]= 1.1009 NZD [New Zealand Dollar]
ADVT= Avg. Daily Volume of Trading; VI= Volume Index (1 is avg)
II.2 Stock Identifiers
ISIN: AU000000ANZ3
PermID: 4295856605
RIC: ANZ.AX
GLOSSARY
ADVT: Average Daily Volume of shares Traded
Annual Return: Dividends Paid In a 12-Month Period/Price at the Beginning of the Period + Capital Gain or Loss over 1 Year/Price 1 Year Ago (%)
Capital Gain/Loss from n Years Ago to n-1 Years Ago: Capital Gain or Loss over 1 Year/Price 1 Year Ago (%)
Current Ratio: Current Assets/Current Liabilities (times)
Dividend Yield: Dividend Per Share/Share Price (%)
EBIT Margin : Earnings Before Interest and Tax/Revenue (%)
Earnings Yield: Earnings Per Share/Share Price (%)
Income during the n years (3/2/1): Dividends received during the Period
PV1000: Present value of 1000 invested 1 year/'n' years ago
Price/Earnings: Share Price/Earnings Per Share (times)
Relative Price Change [RPC]: Relative price change is price change of stock with respect to Benchmark Index
Relative Strength (6 Months): Price close today/Price close 6 months ago, then ranked by percentile within the entire market.
Return on Assets: Net Profit/Total Assets (%)
Return on Equity (Shareholders' Funds): Net Profit/Net Assets (%)
TSR: Total Shareholder Returns is expressed as an annualized rate of return for shareholders after allowing for capital appreciation and dividend
TTM: Trailing 12 Months
Volume Index (VI): Number of shares traded in the period/Average number of shares traded for the period
Volume Weighted Average Price (VWAP): The Volume Weighted Average Price (VWAP) is the summation of turnover divided by total volume in the same period.
Disclaimer: While this document is based on information sources which are considered reliable, it has been prepared without consideration of your specific investment objectives, financial situation or needs, so you should carry out your own analysis or seek professional investment advice before an investment decision is made. The document contains unbiased, independent equities data and analysis from Jupiter International (Australia) Pty Ltd trading as BuySellSignals (AFS Licence 222756), who provide round the clock analysis on every stock, every sector, every market, every day. BuySellSignals is not a broker, and does not have executing, corporate advisory or investment banking functions. Jupiter International (Australia) Pty Ltd, its directors, employees and contractors do not represent, warrant or guarantee, expressly or impliedly, that the information contained in this document is complete or accurate.
Data for the BuySellSignals algorithms is drawn from annual reports, company websites and similar sources of publicly available data. It should be used as a guide only.
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